All categories

2 years ago

Explain what debit and credit mean.

Business

1 answer:

xeze [42]2 years ago

6 0

Debits and credits are used in a company’s bookkeeping or or double-entry accounting.

Debits and credits are the bookkeeping entries that balance each other. Debits means all of the money coming into an account, while credits means all of the money going out of an account. When recording a transaction, every debit entry must have a corresponding credit entry of the same amount.

A debit entry is always kept on the left side of an entry. A debit increase asset or expense accounts, and decreases liability, revenue or equity accounts.A credit is always placed on the right side of an entry. It increases liability, revenue or equity accounts and decreases asset or expense accounts.

To learn more about Debits and credits here

brainly.com/question/14747768

#SPJ4

You might be interested in

Me on my block be like

Volgvan

Answer:

facttttttsssssssssssssssssssssssss XD

have a good day :)

Explanation:

7 0

3 years ago

Read 2 more answers

Scrooge, Inc. prepares adjusting entries only at the end of its fiscal year, August 31. Scrooge has the following unadjusted acc

o-na [289]

Answer:

$6,100

Explanation:

The computation of the net income is shown below:

= Service revenue in trial balance + ( unearned revenue × given percentage) - (rent expense in trial balance) + ( Prepaid rent × 2 months ÷ 12 months) - (wages expense in trial balance + adjusted trial balance)

= $5,000 + ($4,000 × 80%) - ($800 + $3,600 × 2 months ÷ 12 months - ($600 + $100)

= $5,000 + $3,200 - $1,400 - $700

= $6,100

4 0

3 years ago

Short notes on foods for bee

inna [77]

Answer:

The answer to this question varies depending on what their role is in the hive. For example, many worker bees eat the same exact foods such as honey, pollen, and nectar. However, the elusive queen bees (less common in a hive) are typically fed a different diet while growing up to change their overall larval development.

8 0

3 years ago

Read 2 more answers

A local bank’s advertising reads: "Give us $45,000 today, and we’ll pay you $800 every year forever." If you plan to live foreve

m_a_m_a [10]

Answer:

1.78%

Explanation:

The computation of the annual interest rate earn is shown below:

= Every year payment ÷ Present value × 100

= $800 ÷ $45,000 × 100

= 1.78%

We simply divide the every year payment by the present value so that the correct annual interest rate can come

So, we consider all the information which is given in the question

3 0

4 years ago

hi im smartswimmer101 aka jaja1213 aka ok no more "akas" i have had a lot of accounts but anyway how is school going for all of

nadya68 [22]

Answer:

Thank you for sharing your thoughts on the homework assignments application

8 0

3 years ago